LaRouche Issues Emergency Call:
Get Serious; Shut Down Derivatives,
Put Glass-Steagall In Place
May 20, 2010 (EIRNS)This release was issued today by the Lyndon LaRouche Political Action Committee (LPAC).
While the U.S. Congress, especially the Senate, is being tied up with all kinds of silliness," Lyndon LaRouche said today, "the fact of the matter is that a warning shot for the dissolution of the entire world financial system has already taken place. The world as a whole stands on the edge of a sudden, overnight collapse, which will make the 1,000 point drop in the Dow Jones on May 6 look like a small perturbation. We could wake up one morning, and find that we have no financial system at allan instant plunge into a New Dark Age."
"The immediate key to this situation is the derivatives. The derivatives markets must be shut down now!"
German Chancellor Merkel, with her sovereign ban on parts of the derivatives market as of May 19, has done the right thing, acting to protect her nation from the devastation of the speculators.The U.S. government must be forced to take the same action, immediately.
The tens of thousands of American patriots now mobilizing to enforce the Glass-Steagall principle, must escalate their efforts, with a clear understanding of the danger. The issue of the derivatives gamblers, which Senator Dodderer is moving to protect, is inextricably linked with the Glass-Steagall issue. We must insist that the derivatives markets be shut down now. And we must immediately put in place the Glass-Steagall standard of separation between the commercial and investment banks, to protect our people from chaos, and establish the basis for the recovery program which I have laid out in detail.
Let the U.S. Senate know that it is we patriots who are going to determine the policies of the U.S. government, not a bunch of predator British lackies who run Wall Street. Demand they enforce sanity: Shut Down Derivatives, Implement Glass-Steagall.